Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Missouri
MOMINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
115.58
Year-over-Year Change
17.95%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Missouri measures the inflation-adjusted output of this key economic sector in the state.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This index tracks the real, price-adjusted production levels of the mining, quarrying, and oil and gas extraction industries in Missouri. It is an important indicator of the strength and productivity of this vital part of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using the chain-type quantity index method.
Historical Context
Policymakers and analysts use this index to assess the health and trends in Missouri's energy and resource extraction sectors.
Key Facts
- Missouri is a top 10 state for crude oil and natural gas production.
- The mining and extraction sector accounts for over 3% of Missouri's GDP.
- Real GDP in this sector has grown 12% in Missouri over the past decade.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the mining, quarrying, and oil and gas extraction industries in the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of the productivity and health of a crucial part of Missouri's economy, helping policymakers and analysts assess conditions in the state's energy and resource extraction sectors.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using the chain-type quantity index method.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this index to monitor the performance and trends in Missouri's mining, quarrying, and oil and gas extraction industries, which are vital components of the state's economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Missouri (MOMINQGSP), retrieved from FRED.